| TO: | Honorable Craig Estes, Chair, Senate Committee on Agriculture & Rural Affairs |
| FROM: | John S O'Brien, Director, Legislative Budget Board |
| IN RE: | HB2996 by Miles (Relating to the creation of the Texas Urban Agricultural Innovation Authority.), As Engrossed |
The bill would create the Texas Urban Agricultural Innovation Authority within the Department of Agriculture (TDA). The bill would require the Texas Urban Agricultural Innovation Authority to create the Urban Farmer Interest Rate Reduction Program to promote the creation and expansion of urban agriculture by providing linked deposits to eligible lending institutions for applicants who own or lease real property for agricultural purposes in a municipality with a population of at least 500,000.
The bill would create the Urban Farmer Grant Program within the Texas Urban Agricultural Innovation Authority to foster the creation and expansion of urban agricultural projects by providing grants of $5,000 to $20,000 to agricultural producers who own or lease real property for agricultural purposes in a municipality with a population of at least 500,000.
The bill would prohibit the use of state money for the purpose of the authority.
This analysis anticipates any additional work resulting from the passage of the bill could be reasonably absorbed within current resources.
The bill would take effect September 1, 2011.
| Source Agencies: |
| LBB Staff: | JOB, SZ, AH
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